The Chart of the Day belongs to the biotech company FibroGen (FGEN). I found the stock by sorting Barchart’s Top Stocks to Buy list first by the most frequent number of new highs in the last month, then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 10/4, the stock gained 26.58%.
FibroGen, Inc., a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States, Europe, China, and Japan; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes. It is also developing Pamrevlumab, a human monoclonal antibody that inhibits the activity of connective tissue growth factor that is in Phase III clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and diabetic kidney disease, as well as Phase III trial for the treatment of Duchenne muscular dystrophy. The company has collaboration agreements with Astellas Pharma Inc. and AstraZeneca AB. FibroGen, Inc. was incorporated in 1993 and is headquartered in San Francisco, California. (Source: Seeking Alpha)
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Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:
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